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Book Review - Essay Example
Author : vwaters
Pages 5 (1255 words)
[Instructor Name] Making Globalization Work By Joseph E. Stiglitz Introduction to the Author and Book Making globalization work is a book written by the noble prize award winner author Joseph E. Stiglitz. The author has serviced the World Bank organization as a senior vice president and chief economist from 1997 to 2000…
Context 1 Globalization as a Problem At the first, the author comes out argumentative towards globalization. The author describes globalization as a problem only because it is something, which is being mismanaged by institutions (Stiglitz). The author arguments that international institutions such as the World Trade Organization, the International Monetary Fund or the World Bank have made poor organizations poorer. It is because the benefit has been transferred to the developed nations and because the institutions have prioritized profits over environmental health, the peoples’ lives in the poor countries have been compromised. The author puts responsibility of mismanagement to the international institutions, which look for the size, the volume of an economy and the power in a respective nation to provide benefits and opportunities. The author actually tries to put a light on the context that globalization is a problem if it gets mismanaged or uncontrolled (Stiglitz). Leading the argument the author comes with an objection that United States, which is largest in economic volume, gets the veto power from the IMF. Similarly, the country being the largest in all economies appoints the head of the World Bank, the organization which deals with the sanctioning up of loans to world’s poor countries. ...